Malaysian firm ready to set up coal-based plant

A Malaysian company on Tuesday showed interest in establishing a coal based power plant of 660MW at Hub near Balochistan through joint venture with a local partner in Pakistan.

Ibrahim Bin Othman, Managing Director Global Benefit SdnBhd Malaysia, visited Board of Investment to discuss and explore the investment opportunities available in Pakistan. The delegation met with Secretary BOI Iftikhar Babar. The company has requested the Secretary, BOI for help and arranging meeting with PPIB, Ministry of Water & Power, Government of Balochistan and other stakeholder Department. The Secretary, BOI informed them that BOI, being the apex state agency for investment promotion and provide facilitation to foreign investors, may extend full support/facilitation to Malaysian businessmen/entrepreneurs. The Secretary, BOI highlighted that a vast investment opportunities is available in all sectors of Pakistan and assure them full support/facilitation especially in establishment of power project in Pakistan. At the end Secretary, BOI thanked the Managing Director and his delegation of Global Benefit SdnBhd, Malaysia, and appreciated their efforts and intention with regard to make investment in power sector and to boost economic relation between the two Muslim countries.

Meanwhile, Joseph Ziomek, Director Finance, IS & Admin along with 3-member delegation of Philips Morris Pakistan Limited (PMPL) also visited Board of Investment and met with Secretary, BOI Mr. Iftikhar Baber and intimate that problems/grievances being faced of tobacco industry of Pakistan with Ministry of National Health Services, Regulations & Co-ordination (MNHSRC), regarding the intention to increase the size of GHW on cigarette packs front and back to 85 per cent from present 40 per cent by 30th March, 2015, announced through a press conference and issuance of SRO as well. They informed that Ministry constituted a committee to evaluate and resolve the problem being faced to investor in the cigarette manufacturing units in Pakistan. They requested the BOI to be a part of this committee and resolve the problem of tobacco industry in Pakistan.

The Secretary, BOI informed them that BOI will facilitate M/s. Philips Morris Pakistan Ltd, in consultation with the Ministry of Health.

At the end Secretary, BOI thanked the delegation of Philips Morris Pakistan Limited (PMPL) and appreciated their efforts and intention for more investment in Tobacco Industry in Pakistan, after resolving their above stated issue.